OK this is what is rumored and discussed in the local thread as of now. No details are released yet until a further announcement will be made in September 2012.



1. The new name is TRX or Tun Razak Exchange at the KL International Financial District.

2. It is accessible by one of KL's main circular road - Jalan Tun Razak, which shares the same name as TRX.

3. It is located near Bukit Bintang, at the far end of the Pudu/San Peng area, once known as the backyard of Kuala Lumpur due partly to the existence of the centuries-old Pudu Jail, which will also be thorn down soon.



4. The winning international architect for the iconic signature tower has yet to be announced.

5. The final masterplan was revealed yesterday and thus is completed. The leading planner was Machado & Silvetti Associates of Boston USA.

6. The masterplan focused in creating a "global" environment for Kuala Lumpur. The masterplan features large green spaces, sustainable buildings, limited motor vehicle usage, large tranquil parks coupled with rooftop gardens and solid waste management eco-system.

7. Based on KL City Hall planning submission, there will be a provision of up to 24 towers, a large upscale shopping mall and retail boulevards with ample parking spaces. All structures to be erected will be dependent on market demand.

8. The Phase 1 of the project is due for completion in 2017. Construction has started.

9. Tun Razak Exchange will also host an underground MRT station, which is currently under construction.


This post has been edited by accetera: Jan 16 2017, 06:12 PM

TRX begins...

WCT has won the land clearing and ground works tender.


(photos by dengilo of skyscrapercity)

Phase 1 approved already.

Massive land clearing is about to begin at TRX, China's Exim Bank becomes partner investor, potentially attracting more China banks over


mohamad atif

Publicised at PTLM >>> https://www.facebook.com/groups/115179435202482/


Tun Razak Exchange (TRX) Details Released & Status Updates
http://www.trx.my/


http://www.youtube.com/watch?v=PgXaRBAzjrg



http://www.trx.my/features.html




http://www.trx.my/TRX_Brochure.pdf

FYI, WCT is currently doing land piling at phase 1a site. Do follow the TRX thread for latest photos soon.

The land is very big. 70 Acres.

Just like other big plans like Tropicana Metropark, only a small parcel will start first and gradually developed over 10-15 years.

As long it starts, money counts and raised. 1MDB has raised funds. 3 countries' leaders have endorsed.

So everything just move according to timeframe. Stage 1 to be completed in Q3 2017, by then the MRT would have jalan.

Our current banks are offered spaces there. Bursa Malaysia and Bank Negara Malaysia may moved there.

The TRX Galleria Now Open [Launches Will Be Held Here]
Source: http://www.greenbuildingindex.org





This post has been edited by accetera: Nov 8 2013, 01:14 AM

Over RM3,000 psf for TRX land
By Charles Yong of theedgemalaysia.com
The Edge Property | Wednesday, 12 February 2014 15:01
http://www.theedgeproperty.com/news-a-view...r-trx-land.html

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) is setting a reserve price of above RM3,000 per sq ft (psf) for its flagship Tun Razak Exchange (TRX) development, given the recent highs fetched within the central business district, a source told The Edge Financial Daily.

Assuming a sale price of RM3,000 psf and a developable area of 60% for the 70 acres (28.33ha) of prime land, TRX could be revalued at RM5.49 billion. As at March 31, 2012, the land was valued at RM1.78 billion on 1MDB’s books. The government-linked investment company bought the land from the government for RM320 million (or RM105 psf), according to media reports.

While there are already two transactions which have reached such soaring prices in Kuala Lumpur’s central business district — Singapore’s Oxley Holdings bought a Jalan Ampang plot in November at RM3,325 psf and KSK Group Bhd acquired a tract near Jalan Conlay in December at RM3,299 psf — investors who are keen to buy a plot at TRX, which is meant to be an international financial hub, would have to pay a similarly high price, if not higher.

Oxley acquired the Jalan Ampang plot before securing the necessary approvals for development. TRX plots, on the other hand, come not only with approvals, but with wide-ranging incentives such as tax breaks, allowances, cost deductions, and stamp duty exemptions.

In December, 1MDB said it was seeking investors to develop Stage 1 of TRX, consisting of a signature tower, up to five residential towers and two five-star hotels and a retail mall. It plans to continue holding equity interest in the majority of TRX’s developments through joint ventures. To date, it has announced only one partnership, with China’s EXIM Bank to develop the signature tower.

TRX plans to continue holding equity interest in the majority of its developments through joint ventures. To date, it has announced only one partnership, with China’s EXIM Bank to develop the signature tower

However, many local developers and the public have expressed concern that the state-backed mega-project would sponge off demand for offices in the surrounding area.

Asset revaluations come rather often in 1MDB, to the extent that opposition leaders have called the state investor’s profits “paper gains”.

It bought the 70 acres from the government for RM320 million (or RM105 psf), according to media reports, and had by March 2010 revalued it to RM820 million. By 2012, it revalued it again at RM1.78 billion. The company would not be financially sound if not for such revaluations as well as loan injections, says Pakatan Rakyat.

Any significant revaluation to TRX would prove a boon to the debt-laden company. Its gearing ratio as at March 31, 2012 stood at 7.24 times.

According to media reports, it used US$1 billion (RM3.49 billion then) of the proceeds to invest in a joint venture with PetroSaudi International Ltd, a privately owned oil company. The following year, it sold its 40% stake in the venture to PetroSaudi for US$1.2 billion. However, the sale was not paid for in cash but in a bullet bond expiring in 2021 with an interest rate of 8.67%. 1MDB then lent a further US$500 million to PetroSaudi in another bullet bond expiring in 2015.


This article first appeared in The Edge Financial Daily, on February 12, 2014.

Cannot lah... everyone forced to go there. Bursa and SC going there.

Hearsay >>> Our local banks are allocated spaces there. Don't care about their existing HQs, the top guys need to have a corporate office there. Our many regulators in financial and insurance industry also allocated spaces there.

Besides BNM, Bursa and SC, I think players like EPF may have to consider TRX as well.

This post has been edited by accetera: Feb 23 2014, 10:01 AM

Massive earthworks are ongoing...

The huge notice board on TRX is on Jalan Tun Razak.

Package 1 awarded to WCT as reported in all media last year.

I'm not talking about the Blue hoarded site.

It is the other site lah...

1MDB may face loss of global investors in Tun Razak Exchange and Bandar Malaysia
The Edge Financial Daily | The Malaysian Insider | 24 September 2014
http://www.themalaysianinsider.com/malaysi...-and-bandar-mal



Major global investors from Qatar and Abu Dhabi are said to be considering pulling billions of ringgit out of two of 1Malaysia Development Bhd’s (1MDB) mega projects, namely the Tun Razak Exchange (TRX) and Bandar Malaysia here, due to the lack of transparency and slow progress.

“The lack of transparency in sharing their (1MDB) plans with investors and the public, coupled with slow progress, lack of experience and delays can cause a substantial amount of interest costs to accumulate,” a source close to the matter told The Edge Financial Daily.

“(Thus,) investors from both Qatar and Abu Dhabi are reconsidering their positions in the TRX and Bandar Malaysia projects,” the source said.

In April last year, 1MDB and its Abu Dhabi partner – Aabar Investments PJS – had reportedly raised US$3 billion (about RM9.7 billion) capital from a private placement to fund their RM18 billion worth of projects.

TRX in Jalan Tun Razak was said to be potentially the first investment by their 50:50 joint venture, Abu Dhabi Malaysia Investment Co (ADMIC).

Meanwhile, Qatar Investment Authority (QIA), one of the partners for the Bandar Malaysia project, had pledged to invest US$5 billion in it.

In exchange, 1MDB had promised to give QIA first choice of land, before opening the rest to local developers.

Apart from Aabar Investments and QIA, financial services firm Prudential is reconsidering pumping US$500 million into the TRX project, the source added.

The source also noted that another investor from Kuwait that was initially interested in setting up a mega Islamic bank within TRX had recently pulled out.

At press time, 1MDB did not respond to an email query by The Edge Financial Daily.

1MDB is the master developer for TRX, an international financial district, and the 200.3ha Bandar Malaysia urban redevelopment township, located 3km from TRX.

When contacted, Akitek Jururancang (M) Sdn Bhd, one of TRX’s master planners, said the project had yet to start major earthworks.

“There have been several changes to the master plan and this has caused delays to the project,” the spokesman added.

Akitek Jururancang had partnered with international firm Boston-based Machado and Silvetti Associates Inc for the TRX project.

Kuala Lumpur mayor Datuk Seri Ahmad Phesal Talib told The Edge Financial Daily that there should not be any issues preventing the project from moving forward as all the necessary approvals have been issued for the TRX project.

“Earthworks for the basement were approved by the Kuala Lumpur City Hall (DBKL) last year,” he added.

Ahmad Phesal also confirmed that DBKL had yet to receive any application to start with Bandar Malaysia.

It is understood that Bandar Malaysia is one year behind schedule.

In August 2011, 1MDB Real Estate Sdn Bhd (1MDB RE) chief operating officer Datuk Azmar Talib was reported to have said that the detailed master plan for TRX was scheduled to be completed in the first quarter of 2012, while construction was on track to start in June the same year.

On Monday, 1MDB RE invited prospective contractors to take part in its pre-qualification exercise for TRX. The scope of works for the project involves the proposed construction and completion of the infrastructure and roadway works. – The Edge Financial Daily, September 24, 2014.

This post has been edited by accetera: Sep 24 2014, 12:51 PM

Phase 1 - residential, hotel, The Lifestyle Quarter (a huge mall) and Urban park

Tun Razak Exchange has been splashing local newspapers last few days for the calling of Infrastructure Tenders. There is huge optimism among the people in the know that TRX will be launching its Phase 1 next year, which could consist of Residential, The Lifestyle Quarter Mall, Urban Park and connection to MRT plus a Hotel block. Back in April 2013, it was announced that 1Malaysia Development Bhd (1MDB) has awarded a contract worth RM169.26mil to WCT Bhd for earthworks and substructure works at the TRX.



Tun Razak Exchange infrastructure tender soon
The Star | Tuesday September 23, 2014 MYT 11:40:24 AM
http://www.thestar.com.my/Business/Busines...re-tender-soon/




PETALING JAYA: An upcoming tender for infrastructure and roadway works in Tun Razak Exchange (TRX) could see bids from the likes of WCT Bhd, IJM Corp Bhd and Mudajaya Group Bhd, analysts said.

1MDB Real Estate Sdn Bhd (1MDB RE), a unit of state-owned investment fund 1Malaysia Development Bhd, invited contractors yesterday to take part in a pre-qualification exercise for infrastructure and roadway works in the near RM30bil TRX project.

“Contractors are required to submit a duly completed pre-qualification document with comprehensive supporting information.

“All pre-qualification document submissions will be reviewed and scored on the basis of content, completeness and quality. Only shortlisted contractors will be notified to proceed to the subsequent stage of tender,” 1MDB RE said in a newspaper advertisement.

TRX, a 28.3ha mixed-use development in the Imbi area of Kuala Lumpur fronting Jalan Tun Razak, will comprise a new financial and business district with commercial, residential, leisure and cultural components.

Construction of the first phase, which includes a shopping complex and four office towers, five residential towers and two five-star hotels, will commence early next year and is slated for completion by 2017.

The rest of the parcels would be developed in phases over the next 15 years, 1MDB RE had said in June.

An analyst with a local research house told StarBiz that only WCT had expressed interest in bagging more contracts from TRX.

WCT had secured in April last year a RM169.26mil award for earthworks and substructure works at TRX.

1MDB had then said the job was the first in a series of earthworks and civil engineering packages to be awarded.

On the latest pre-qualification exercise, an analyst said that most of the listed contractors might put in bids though not aggressively as their hands were tied by the ongoing MRT works and other large infrastructure projects like the West Coast Expressway.

“The potential value of the TRX jobs is unlikely to be huge. In addition, the smaller, unlisted contractors can take on these contracts,” he pointed out.

1MDB RE said the scope of works for the infrastructure and roadway works could include earthworks, underground road structures, elevated roadway and others.

Individual applicants of the pre-qualification must be locally-owned and incorporated and have a minimum of 10 years experience, with a track record as a main contractor.

Joint ventures with foreign firms are permitted, but the local party must control at least 51% of the consortium and the bulk of the management and staff are Malaysians.

CLARIFICATION: It has been confirmed that Lembaga Tabung Haji has bought ONLY one out of the two parcels of land that was reported here earlier for RM188.5 million after discount. The second parcel of land was not purchased. The purchased land will be subsequently sold to an interested party.

*** *** ***

- See more at: http://www.ptlm.com.my/index.php/component...h.0Zmqs898.dpuf


The Pilgrim Fund Board of Malaysia (referred to as "Lembaga Tabung Haji") is said to be acquiring two plots of land from 1MDB Real Estate Sdn Bhd (1MDB-RE).

According to leaked documents sighted by PTLM on the Internet recently, Lembaga Tabung Haji's property arm, TH Properties Sdn Bhd (TH) was said to be "in the process" of acquiring two subdivided plots of land from 1MDB for a total consideration of RM772 million.

These leaked proposal documents have not been verified by PTLM or any other business media. The full content is being summarised as below.

*** *** ***

The said two freehold plots of land are located within the Tun Razak Exchange (TRX) megaproject, of which 1MDB-RE is the landowner and master developer.

1MDB-RE is the real estate subsidiary of cash-strapped 1Malaysia Development Berhad (1MDB), a strategic investment company wholly-owned by the Government of Malaysia.

These plots of land will come with access infrastructure and other amenities which will be built by the master developer and/or its joint venture partners in accordance to the approved TRX Masterplan.

The first plot of land is Plot B.10.15-RT. It has a total land area of approximately 67,792 sq ft or 1.56 acres.

The site is located on the western side of TRX fronting Jalan Barat to the west and will overlook a large public park and underground retail area to the east. Next to the site will be two residential service apartment blocks and a commercial block.

This plot will be purchased at RM2,860 psf or a total consideration of RM193.8 million. Interestingly, this was lower than 1MDB-RE's initial asking price of RM3,100 psf or RM210 million.

[Update] It was later confirmed that the plot of land was acquired at RM188.5 million, which works out to around RM2,780 psf.

The said plot is being planned for one block of 40-storey luxury service apartments with a sky club. Its total gross development value (GDV) is expected to be RM828 million which would translate into an average selling price of RM1,700 psf for each apartment unit.

It will comprise of 516 apartment units, a retail floor area of 11,840 sq ft and 681 carpark bays. The total development costs excluding land cost is projected to be RM462 million.

The second plot of land is Plot C7.7-CT. It has a total land area of approximately 148,105 sq ft or roughly 3.40 acres.

The site is located in the heart of TRX with the objective to act as an anchor to TRX main components comprising a large public central park, the Lifestyle Quarter which includes a retail mall, an interchange MRT station (Line 1 and Line 2) - the largest underground MRT station in Malaysia, a proposed trading hub as well as international 5-star and business hotels.

This plot will be purchased at RM3,900 psf or a total consideration of RM577.6 million. Again, this was apparently lower than 1MDB's initial asking price of RM4,200 psf or RM620 million.

[Update] This second plot was not acquired.

It was widely acknowledged by practitioners in the property industry that parcels of land within TRX has been approved-in-principle for a development plot ratio as high as 1:13, which is amongst the highest ever heard in Kuala Lumpur. This explains the high reserve price now set by 1MDB-RE.

This plot of land was earlier earmarked for a "Signature Tower", which is a 74-storey 'Grade-A', green-rated office tower that will be the centerpiece of the Financial Quarter and the focal point of TRX as a whole. The total development costs excluding land cost is projected to be RM1.978 billion.

The first plot of land was valued by Jones Lang Wootton Malaysia whereas the second plot of land was valued by DTZ Nawawi Tie Leung.

Astonishingly, 1MDB, which was exposed recently by former Prime Minister Tun Dr Mahathir Mohamad in his personal blog, is believed to have been awarded several years ago the large track of Government-owned TRX land for roughly RM320 million, or at an average of only RM105 psf (some plots could be lower than RM100 psf).

The leaked proposal documents further mentioned that the completed "Signature Tower" will be leased back to the master developer for a period of 5 years at a Net Yield of 5.5% per annum on the actual total development and land costs incurred.

The master developer will market and secure potential reputable office tenants for TH and will ensure compliance to sharia requirements, which is a major requirement for TH.

The rental income will form the underlying guaranteed income to TH. Hence, the total guaranteed income will certainly be dependent on the potential occupancy level and rental rates for the total lettable commercial space during the guaranteed period.

At 5.5% per annum, this is lower than today's market average of 7% per annum prevailing net yields required by prominent listed Malaysian real estate investment trusts (REITs).

The "Signature Tower" building is presumed to achieve just slightly over 8% in net yield if the building is rented out at RM15 psf and if it is 100% occupied. This is assuming the site was purchased at RM578 million and the total development costs is RM1.978 billion.

Already, there is a widening gap between demand and supply for office space. The total office supply in Greater Kuala Lumpur now stood at closer to 100 million sq ft, which is more than Singapore's 80 million sq ft. A projected future office supply of 23 million sq ft is expected to hit the market by end of 2017.

This risk factor is thought to be mitigated by virtue of the 70-acre TRX being positioned as Kuala Lumpur's premier financial and business hub with tax incentives for owners/tenants that fall under marquee incentives such as accelerated capital allowances (100% over 2 years), stamp duty retention and 50% additional tax deduction on renovation expenses.

It is unclear if tenants would still be able to get another approved incentive, which is an additional 50% deduction (total of 150%) on rental of any premise within TRX, which presumably included the "Signature Tower", for a period of 10 years.

This is because a deduction of rental would reduce the said rental income for 1MDB, who will have to pay for any shortfall from the guaranteed income to the owner TH.

It was noted that TH would automatically qualify as a "TRX Approved Developer" once the deal is completed. This means that TH will enjoy a tax exemption on 70% of its statutory income from the sale of service apartments and the rental of office space located in TRX. This exemption applies for a maximum period of 5 years.

The entire TRX Masterplan will be certified as Leadership in Energy and Environmental Design Development (LEED-ND) and Green Building Index (GBI) Township.

TRX will be equipped with Smart City Infrastructure comprising TRX Security, Urban Operating System, Digital Homes, Mobile and Wireless Cloud and Smart Waste System among others.

As for TH, it's flagship property development is the 5,119-acre Bandar Enstek in Negeri Sembilan. Located just under 10 minutes drive to the Sepang F1 Circuit and the Kuala Lumpur International Airport (KLIA), the integrated township is expected to generate a GDV of over RM9 billion.

TH already owned several prime properties in Malaysia and had snapped up three prime commercial properties in London over the last two years. Some of its properties in its portfolio are:

151 Buckingham Palace Road, London
10 Queen Street Place, London
Unilever House, Leatherhead in Surrey, London
Wisma Tabung Haji in Jeddah, Saudi Arabia
Bangunan Tabung Haji, Jalan Tun Razak
Menara Tabung Haji in Johor Bahru
Menara TH Perdana, Jalan Sultan Ismail
Bangunan TH Selborn, Jalan Tun Razak
TH Uptown 3 in Damansara Uptown, Petaling Jaya
TH Saujana (Block C) in Peremba Square, Saujana
Wisma Shell (Shell Business Service Centre) in Cyberjaya
Menara Bank Islam, Jalan Perak
Menara D' Damansara in Glomac Damansara
Menara TH in Platinum Park KLCC
Tower 6 Avenue 5 in Bangsar South
The Islamic Administration Complex in Putrajaya
The upcoming Tabung Haji Hotel and Convention Centre in KLIA.
*** *** ***

In March 2015, 1MDB roped in Australia's Lend Lease [click for news] to jointly develop TRX's Lifestyle Quarter, which is the retail focal point for TRX, that will be built over 16.8 acres of land within TRX. It has a potential GDV of over RM8 billion upon completion.

To recap back in April 2013, 1MDB awarded its first package of earthworks and substructure contract to WCT Berhad worth RM169 million. In September 2014, 1MDB signed a 20-year concession agreement with Veolia Water Technologies Southeast Asia for wastewater treatment and recycled water supply in TRX.

More recently, government-linked property developer Malaysian Resources Corporation Berhad (MRCB) surprised the market [click for news] when it won the deal to buy the 1.86-acre German Embassy Land at Jalan Kia Peng for RM3,188 psf, or RM259.1 million.

Singapore listed property developer, Oxley Holdings Ltd bought a 3.11-acre piece of freehold land in Jalan Ampang for RM3,300 psf, or RM446.7 million in November 2013. The following month saw KSK Land Sdn Bhd buying a 3.95-acre freehold parcel at Jalan Conlay for RM3,299 psf.

Further back in September 2010, Urusharta Cemerlang Sdn Bhd, whose parent company owns the Pavilion KL shopping mall, bought a tiny strip of leasehold land in front of the mall from Singapore billionaire Kwek Leng Beng for a record price of RM7,209 psf.

This land is now being developed as a 51-storey mixed use tower consisting of a 10-storey extension to the retail mall and 382 residential units plus 1 unit of penthouse known as Pavilion Suites Kuala Lumpur. The residential units went on exclusive sale at an average price of RM3,000 psf per unit.

- See more at: http://www.ptlm.com.my/index.php/component...h.0Zmqs898.dpuf

Phase 1 coming soon!!!

This project is led by Australia's largest developer - Lend Lease in a jv with landowner.